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1974 (12) TMI 13 - HC - Income TaxExtract: .......ses realised by the assessee on the sale of land were capital gains and not income or profits from an adventure in the nature of trade within the meaning of section 2(4) of the Act of 1922 and was thus not chargeable to tax under the head business in the assessment years 1960-61, 1961-62, 1962-63 and 1963-64. The assessee will get costs of Rs. 300.
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